CAPE TOWN - Imperial Holdings Ltd has accepted the resignation of group chief executive Mark Lamberti with effect from 30th April 2018.
The news broke of Lambert's decision on Wednesday morning.
The CEO resigned after a recent judgment in which high court found in favour of an ex-employee and against Imperial and Lamberti.
That employee is Adila Chowan.
Damages in the case have to be proven in due course, said Imperial.
"Mr Lamberti has served Imperial with distinction since March 2014, leading a multifaceted portfolio, organisation and management restructuring, a key objective of which was to accelerate executive development and transformation to align Imperial’s employee and leadership profile with the economically active demographics ofSouth Africa," according to the statement.
"The Board thanks Mr Lamberti for his excellent leadership and commitment to the group."
Osman Arbee, the current chief executive officer of Motus division, has been appointed group chief executive officer with effect from may 1.
"Mr Arbee was previously a senior partner at Deloitte and Touche and joined the group in 2005," said Imperial.
"He has been intimately involved in the affairs of Imperial at the highest levels since joining the group and is well placed to assume leadership and continuity of the board approved strategy which commenced in late 2014."
Lamberti was found to have impaired dignity of an ex-employee during a conversation on 15th April 2015.
Lamberti on Monday also resigned from the Board of Business Leadership South Africa (BLSA).
He was the BLSA's longest serving director and has a strong track record of contribution both to the various businesses he has led and to the country.
Last week, he resigned from his position as a director on the Eskom board following judgement by the North Gauteng which found him guilty of discrimination.
He specifically referred to an employee as a female employment equity candidate. He also said that she would need as much as four more years to develop her leadership skills in front of her fellow colleagues.
Lamberti later apologised for the transgression.
Lamberti has been accused of a number of incidents since 2014.
In a statement, BLSA said that its members were committed to playing their part in creating a South Africa of increasing prosperity for all and to delivering economic growth, transformation and inclusion, amongst others, by encouraging and empowering senior black leadership.
BLSA is an organisation of influential business people tasked with promoting investment in the country.
"Against this context, and following the recent high court judgment on the merits in favour of Ms Adila Chowan and against Associated Motor Holdings, Imperial Holdings and himself, the BLSA board appreciates Mr Lamberti's apology," it said.